Elliottwave-Forecast.com - Official Thread w/ Analysis Blogs

Wave Structure Suggests Green Shoots Appearing in SNAP
March 13, 2019 By EWFJames (Edit)
Is There a Bottom for SNAP ?
On March 3, 2017 shares of Snap Inc ( NYSE: SNAP ) printed a now all-time high of $29.44. Ever since then the social media/ camera company has seen very little positive sentiment. Just a couple of short months ago now SNAP hit its lowest price since its 2017 IPO printing $4.82/share on December 21, 2018. After a near 84% drop in share prices peak-to-trough we contend that we are starting to see green shoots of positivity appearing for the company with regards to the share price.
Sentiment
At the present SNAP represents one of the top 6 shorted stocks on the NYSE. As of 3/12/2019 nearly 17.8 % of the stock’s float are shares that are short. That’s quite a number no doubt. Considering the daily average trading volume, it would take approximately 4 days for investor’s to cover their short. This produces both a problem and an opportunity. Stocks with such a heavy short interest are sometimes hidden jewels from an investment point of view. They also could be junk. After all they’re being shorted heavily for a reason.
On one side you have a crowd. A heavily shorted stock says there are a LOT of people that are betting against SNAP. Consequently, logic would lead one to purport a strong case that the stock heads lower. On the other side though, being such a heavily shorted stock, also represents a TON of money betting on the stock going down. As most of you know when seemingly everyone is running the same direction it usually doesn’t end well for the crowd. And so, one little piece of “good news” could ignite a rally as investors whom are short rush to cover. As most of you know this is a classic short squeeze and it happens all the time. But, is it happening (or about to happen) in SNAP?
Blindly going long SNAP just because the price seems “low” relative to its all-time high is not the best investment strategy. Nor is buying a stock that is heavily shorted just to be contrarian. So, let’s look at a Daily chart for one interpretation of the Elliott wave count for SNAP.
The Wave Count
A very simple yet powerful aspect of the wave principle is the fact that it gives the practitioner perspective. There is perhaps nothing more paramount to wave practitioners than extremes in mass sentiment. As stated above there appears to be an extreme negative sentiment in SNAP. At extremes there are opportunities.
Before we get into any wave analysis I want to introduce that we are granting 2 assumptions here. One being the progress from inception of Snap Inc, to the IPO high is indeed a fist wave up. And, two that SNAP isn’t going to zero.
So, if the $29.44 is the top of wave I the rules of Elliott wave state that there will be a corrective sequence against that high in the same degree. In this case it is to the downside as shown in the chart below for SNAP. I believe we are seeing evidence now that that correction is complete at the $4.82 low.

The price decline in SNAP from the IPO highs to current levels.
Green Shoots ?
The chart above proposes a simple double three corrective structure for wave II. If we have indeed ended the wave II there then we would look for a smaller degree motive wave up to set the stage for a confirmation of a bottom. In the chart you can see the break of a downward trendline that has contained SNAP prices since August of 2018. Also, there is an acceleration gap consistent with separation seen in third waves in the February price action. We haven’t see any acceleration gaps to the upside since February of 2018 (and even that one was part of a upward correction) as most of the gaps have been to the downside.
We’re plotting a 5 wave impulse off the $4.82 low for the first wave (wave 1). Ultimately while the $4.82 low holds there should at least be another wave of the same degree higher in wave 3 or C. Only time can truly tell if we’ve made a bottom here but there are signs of green shoots here in the near term. Let’s see if it proves out.
James
Elliottwave-Forecast.com
Analytical Team

SPX Elliott Wave: Calling The Rally From Blue Box
March 13, 2019 By Daud Bhatti (Edit)
SPX pulled back in 3 waves last week and put in a strong rally which has already resulted in new highs. In this blog, we are going to take a look at structure of this 3 wave pull back and the subsequent reaction from the blue box. We share one chart from members area every day in the form of Chart of the day, we picked SPX as Chart of the day on 3.5.2019 which showed Index made a sharp decline on 3.4.2019 which we labelled as wave (A) and stared bouncing.
SPX 1 Hour chart from 3.5.2019 Chart Of The Day
As the chart below shows, we expected a bounce in wave (B) to fail below 2816.88 wave ((3)) high followed by another decline in the form of wave (C) to complete wave ((4)) pull back and then rally to resume.

SPX 1 Hour Elliott Wave Chart 3.6.2019
Chart below shows Index completed wave (B) bounce as expected and started turning lower. As wave (B) is now well defined so we presented a blue box on the chart to highlight the area for Elliott wave zig-zag structure to end and wave ((4)) to complete between 2744.85 – 2713.05. Blue boxes on our charts are high frequency areas and are expected to produce 3 waves reaction at least, we call them no enemy areas as both buyers and sellers agree in blue box in the direction of the next move for 3 waves at least.

SPX 1 Hour Elliott Wave Chart 3.8.2019
Chart below shows Index traded lower as expected and reached blue box area between 2744.85 – 2713.05 on 3.8.2019, we were expecting wave (C) to end and Index to turn up and either resume the rally for a new high above wave ((3)) or bounce in 3 waves at least as per Elliott wave hedging concept to allow buyers to create a risk free position on the trade.

SPX 1 Hour Elliott Wave Chart 3.13.2019
Index rallied from the blue box and has already broken above 3.4.2019 peak. Here is the latest 1 Hour chart from 3.13.2019 Mid-day New York update which shows the reaction higher from the blue box.

We use Right Side system to keep clients on the right side and use blue boxes to enter in direction of the right side as either blue boxes could resume the trend in direction of the right side or produce a 3 waves reaction lower at least to allow traders to eliminate risk on the trade by trailing stop or taking partial profits and putting stop on remaining position above the high or low. In order to learn to trade on the right side of the market through blue boxes, start your Free 14 day Trial today.

Elliott Wave View: Nasdaq Correction In Progress

Rally in Nasdaq (NQ_F) from December 26, 2018 low remains in progress as an impulse Elliott Wave structure. An impulse structure consists of a 5 waves move. Wave ((4)) of this impulse move has ended at 6965.57. As the chart below shows, after forming wave ((4)) low, Nasdaq has rallied higher and broken above March 4 high at 7211.5, confirming that wave ((5)) has started. Up from 6965.57, the rally ended wave (1) at 7324.25 as an impulse. Internal of wave (1) subdivides into 5 waves where wave 1 ended at 7029.5, and wave 2 ended at 6983.5. Wave 3 ended at 7250.5 ,wave 4 ended at 7211, and wave 5 of (1) ended at 7324.25.

Near term, Index is correcting cycle from March 8 low within wave (2) before the rally resumes. Wave (2) pullback takes the form of a zigzag Elliott Wave structure where wave A of this zigzag ended at 7265.7. While the Index stays below 7324.25, it has scope to do 1 more leg lower to finish wave C of (2). As far as pivot at 6965.57 low stays intact, expect the Index to find buyers in 3, 7, or 11 swing for further upside. We don’t like selling the Index.

1 Hour Nasdaq (NQ_F) Elliott Wave Chart

Attached Image (click to enlarge)

Elliott Wave View: IBEX Shows Bullish Structure

IBEX Elliott Wave sequence from 12.28.2018 low remains bullish, favoring further upside. Near term, the rally from Feb 11, 2019 low (8834.3) is unfolding as a zigzag Elliott Wave structure. The first leg of this zigzag wave A ended at 9361.4 as a 5 waves impulse structure. Wave B pullback ended at 9106.97 as a Flat Elliott Wave structure. Down from 9361.4, wave ((a)) ended at 9204.4, wave ((b)) ended at 9366.2, and wave ((c)) of B ended at 9106.97.

The index has resumed wave C rally higher and broken above previous peak on 9366.2. The internal of wave C is also unfolding as a 5 waves impulse where wave ((i)) is proposed complete at 9418.8. If Index breaks above 9418.8, that suggests wave ((i)) remains in progress but doesn’t change the overall outlook. Near term, while wave ((ii)) pullback stays above 9106.97, expect Index to extend higher. We don’t like selling the Index and expect buyers to appear in 3, 7, or 11 swing as far as pivot at 9106.97 stays intact. Potential target to the upside comes at 9652 – 9771 area where wave C is equal to wave A in length.

1 Hour IBEX Elliott Wave Chart

Attached Image (click to enlarge)

CL_F Zigzag Elliott Wave Structure
March 18, 2019 By Daud Bhatti (Edit)
In this video blog, we will take a look at the price action and Elliott wave structure of Crude Oil since December 24, 2018 low. Understanding the structure of initial rally up from December 24, 2018 low reveals that Oil is taking the form of a zigzag Elliott Wave structure and also highlights the ideal target zone for the current rally to end.
Initial rally from December 24, 2018 (42.36) to January 21, 2019 (54.24) unfolded as a regular Impulse wave when wave (1) ended at 47.00, wave (2) ended at 44.35, wave (3) ended at 53.31, wave (4) ended at 50.38 and wave (5) ended at 54.24. We have labelled this as wave ((A)). This was followed by an irregular correction to complete wave ((B)) at 51.23 after which Oil rallied again in 5 waves to 57.81, break above 54.24 confirmed wave ((B)) completed at 51.23 and wave ((C)) higher is in progress to complete a Zigzag Elliott Wave Structure. Within wave ((C)) rally to 58.95 completed wave 1 of (3) and wave 2 of (3) is also proposed to be over at 57.74. As dips hold above this level, expect Oil to continue higher in wave ((C)) towards 63.05 – 65.88 area and in extension 70.45 to complete a Zigzag Elliott wave structure up from December 24, 2018 low.
If 57.74 low breaks, that could mean wave 2 of (3) has unfolded as an irregular correction and thus, as far as price stays above the up trend line (currently at 55.50) and more importantly as far as it stays above 54.52 low, expect Oil to continue higher towards 63.05 – 65.88 area. Only a break of the distribution pivot at 51.23 low would suggest cycle from December 24,2018 low ended already without reaching the ideal extension target at 63.05. If price breaks above 70.45, then wave ((C)) would become wave ((3)) and rally from December 24,2018 low could then be viewed as an incomplete Impulse structure.
Crude Oil Zigzag Elliott Wave Structure Video


Crude Oil Chart showing structure of rally from December 24,2018 low

OIL Found Buyers In Blue Box And Rallied
March 12, 2019 By EWF Vlada (Edit)
Hello fellow traders. In this technical blog we’re going to take a quick look at the Elliott Wave charts of OIL . As our members know recently we got pull back that was unfolding as Elliott Wave Double Three Pattern. We expected OIL to find buyers there and trade higher due to incomplete bullish sequences in the cycle from the December 2018 low. In the following article, we’re going to explain the Elliott wave structure and Forecast.
OIL 1 Hour Elliott Wave Analysis 3.7.2019
As we can see on the chart below , OIL ended cycle from the 51.19 low and now correcting it. Pull back is unfolding as Double Three – 7 swings structure, labeled as WXY red. As of right now we see pull back incomplete. We are still in Y red leg, when first leg of Y red has unfolded as Irregular Flat, labeled as ((w)) black . Chart is calling for potentially another leg lower toward the blue box area : 54.82-53.23 ( buyers zone). Consequently , we don’t recommend selling OIL and favor the long side from the marked Blue Box area.

OIL 1 Hour Elliott Wave Analysis 3.8.2019
Eventually OIL has made leg lower as expected. The price has reached proposed Blue Box area at 54.82-53.23 . Now we expect buyers to appear at blue area for proposed rally or 3 wave bounce alternatively. As our members know, Blue Boxes are no enemy areas , giving us 85% chance to get a bounce. As OIL is trading with the incomplete December’s cycle , we expected buyers to appear there at the Blue Box for further rally or wave bounce alternatively.

OIL 1 Hour Elliott Wave Analysis 3.12.2019
OIL has found buyers at the blue box area as expected. Short term pull back ended at 54.52 low and we got nice bounce. Any longs from Blue Box areas are should be risk free. Now, we need to see break above March’s peak to confirming next leg is in progress. If not already long we would rather avoid chasing strength at this stage. Once we got proposed break higher OIL can be bought again in short term dips in 3,7,11 swings against the 54.52 low.
Note: Market is dynamic and presented view could have changed in the mean time. Best instruments to trade are those having incomplete bullish or bearish swings sequences. We put them in Sequence Report and best among them are shown in the Live Trading Room.

Elliott Wave Forecast
We cover 78 instruments in total, but not every chart is trading recommendation. We present Official Trading Recommendations in Live Trading Room. If not a member yet, Sign Up for Free 14 days Trial now and get access to new trading opportunities. Through time we have developed a very respectable trading strategy which defines Entry, Stop Loss and Take Profit levels with high accuracy.
Welcome to Elliott Wave Forecast !

Elliott Wave View: Nifty Looking to Break 2018 High

Since forming the low on Oct 26, 2018 low, Nifty has rallied higher and now is challenging the 2018 high (11760.20). A break above 2018 high will signal that the Index has ended the entire correction from 2018 high. A break above 11760.20 will also rule out the possibility of a double correction in Nifty. Our current view anticipates this breakout, but the actual break is going to validate the view and opens further upside.

The rally from Oct 26, 2018 low is proposed to be unfolding as an impulse Elliott Wave structure. Wave (2) of this impulse ended at 10586.53. Wave (3) rally is currently in progress with subdivision as an impulse. Up from 10586.53, wave 1 ended at 10887.1 and wave 2 ended at 10729.30. Near term, dip is expected to find buyers in 3, 7, or 11 swing for further upside within wave (3). As far as pivot at 10586.53 low stays intact, expect Index to extend higher.

For completeness, we also present an alternative view. In the alternate view, the rally from Oct 26, 2018 low takes the form of a zigzag Elliott Wave structure. In this case, Nifty should end the current 5 waves up from 10586.53 as wave (C). Afterwards, the Index will turn lower aggressively without breaking above 2018 high (10729.3).

1 Hour Nifty Elliott Wave Chart

Attached Image (click to enlarge)

Elliott Waves from December Low Suggests XLK to Make New Highs
March 20, 2019 By EWFJames (Edit)
XLK Pattern Suggests New Highs on the Horizon
After a 24.5%, 7-wave, decline from the $76.27 peak of 10/3/2018, XLK appears to be showing signs of a bottom. This technology ETF, XLK, is now showing a clear 5 wave impulse from the 12/24/2018 lows which we are labeling as Super Cycle degree wave (IV). The clearest evidence we see is blatant separation evident in its labeled wave ((3)). Also of note is the ETF breaking above all prior highs printed on its decline. These include the 10/16/2018 high at $72, the 11/8/2018 high at $71.16, and the 12/3/2018 pivot high at $69.71.
As of this publication the ETF is printing $73.45. We are well within the throws of its fifth wave off the December low. Consequently, as Elliott wave practitioners, we know this fifth wave completes the larger fractal wave I. Afterwards a 3 wave retracement against the December lows will take place. It is after this 3 wave projected event that the largest and most powerful sequence will emerge as wave III.
It is this next extension projection that will take XLK to new highs above $76.27. Once we have the wave II bottom in place we will be able to measure the next target for wave III. Moreover this target often relates to a Fibonacci extension of 1.618 times the length of wave I from the bottom of wave II. Hence, we need more data.
Have no idea about or new to the Elliott wave? Does the chart below look like a foreign language? Everyday in our Group 3 Services we measure, map, and monitor XLK and 25 other instruments. Just like the chart below Come join us and see what we do that sets us apart from every other Elliottician. And, learn what we do. We’re offering a Free Trial for new subscribers to test drive our process. After more than a decade of serving the individual trader we know you’ll find our outlook invaluable to helping you become more successful.


XLK from the lows of 12/24/2018

To your success,

James
Elliottwave-Forecast.com Analytical Team

Can Chipotle Mexican Grill (CMG) Break to New All time Highs ?
March 19, 2019 By Ayoub Ben Rejeb (Edit)
Chipotle Mexican Grill (NYSE: CMG) is an American chain of fast casual restaurants which has 29 locations outside of the United States.
Last month, the company announced fourth-quarter sales, revenue, and earnings growth that topped Wall Street’s expectations. The news helped its stock to extend the ongoing rally and CMG is now already up +49% year-to-date. Overall, since early 2018 low, the stock has seen 160% grow and it’s now facing the 2015 peak where a break higher would open a new bullish cycle.
Using the Elliott Wave Theory, we can notice that CMG is only showing 3 waves advance at this stage from 2018 low and aiming for the 100% Fibonacci extension area at $666. Therefore, the stock still needs to do a 4th wave pullback followed by a 5th wave higher to complete an impulsive 5 waves advance.
During that move higher, CMG will be looking to challenge 2015 peak $758 as a break is still needed to confirm a new bullish cycle has started. However, if it fails to break higher then the possibility of a double three correction from that peak will remain alive until the stock shows otherwise.
CMG Elliott Wave Weekly Chart 03.19.2018

Consequently, breaking above 2018 peak will be the key level for CMG to open a new bullish sequence to the upside with a minimum target around 100% – 161.8% area $965 – $1400. In that case, Investors will be looking forward to buy the pullbacks in 3, 7 or 11 swings against 2018 low to join the new rally.
CMG Elliott Wave Weekly Chart 03.19.2018


Get more investing ideas in the Stock Market by trying out our services 14 days and learning how to trade our blue boxes using the 3, 7 or 11 swings sequence. You will get access to our 78 instruments updated in 4 different time frames, Live Trading & Analysis Session done by our Expert Analysts every day, 24-hour chat room support and much more.

AMD: Elliott Wave Structure Calling Another Multi-Year Cycle
March 19, 2019 By EWFEric (Edit)
Advanced Micro Devices (AMD) which is a multinational semiconductor company. Is following the overall structure of other World Indices. The stock is trading within a corrective sequence within the Grand Supercycle degree. From its all-time low, it rallied and made a major peak early 2000. Which can be also seen in many World Indices. After that, it has been sideways to lower and ended the 3 waves decline in 2015.
The chart below is representing our view in AMD based on the Elliott wave Theory. We believe that the stock is doing an Eliott Wave Double Three structure within the Grand Supercycle. At this moment, we should be in the 6th swing after that it should resume higher in the 7th swing ideally. Therefore, it can be bought in 3-7-11 swings for more upside as a long-time investment into the Grand Supercycle. The target should be at around $50.12 area.

AMD 03.19.2019 Quarterly Elliott Wave Analysis


In the weekly chart below you can see that AMD reached the 61.8% area within the Grand Supercycle and peaked at around $34.00 level. Which came within our Blue Box area. That blue box is a very technical area. Where a pullback was expected to take place. Below from 34.00 it did already a 3 waves pullback. But it did a marginal new low at around $16. Which is why the stock can still be doing a connector in ((X)). Before more downside in wave ((Y)) of red X should be seen. Therefore, we do not recommend selling AMD. Rather we recommend buying the dips in AMD in the sequences of 3-7- or 11 swings into the Grand Supercycle target. As the right side is to the upside which you can see below.

AMD 03.19.2019 Weekly Elliott Wave Analysis


As we have explained above. The Stock is following the main cycles of the World Indices. Now let’s take a step further and compare it to the $UKX-FTSE monthly chart. As you can see below it is easy to identify the map and the right side based on the FTSE. As the Index has an incomplete sequence to the upside. Which is confirming more upside.
The following charts are highlighting their sequences. We want to explain that the numbers in the charts are not Elliott Wave counts! They are called swing sequences and those are a part of the Market Nature. As we can see both Grand Supercycles are incomplete, and both need ideally another multi-year cycle higher. However, the $UKX-FTSE is confirming the need of another swing higher in Blue into the 10313 area. Which should come at the same time when AMD reach the $50.12 target. So as you can see it is very technical and due to the right side system, it defines the main trend better and easier which results in a possible long term buying opportunity.

FTSE vs AMD Monthly Sequences Analysis


We at Elliottwave-Forecast, have learned to read the Market as a whole and consequently, we are able to provide members with the sequences and Right Side which results in very profitable trading investment ideas, as we always said, knowing The Right Side and knowing when to enter and exit in each time frame is key to success.

Elliott Wave View: Apple Looking to Turn Lower Soon

After topping at $233.47 on October 3, 2018, Apple (APPL) dropped to $142.9 for a staggering 39% decline only within 3 months. From $142 low on January 4th, 2019, the stock has rallied and retraced 50% of the drop at $187.9. We think the decline from $233.47 to $142.9 only ended the first leg wave a. The rally from January 4 low thus is within wave b correction with subdivision as a zigzag Elliott Wave structure.

In the short term chart below, we can see the pullback to $169.50 ended wave (2) as part of wave ((C)) of b zigzag. From there, the stock rallied to $189.26 and ended wave (3), then the pullback to $184.75 ended wave (4). Apple is in the process of ending the last leg wave (5) with potential target of $190.9 – $192.67, which is the inverse 1.236 – 1.618 extension of wave (4). This last push higher should also end the wave b correction to the decline from October 3, 2018 last year. As far as pivot at $233.47 high stays intact, it should start to roll over soon or at minimum do larger 3 waves pullback.

1 Hour APPL Elliott Wave Chart

Attached Image (click to enlarge)

Fed’s Policy U-Turn Deters Dollar Bulls – US Dollar Weakness Ahead
March 21, 2019 By EWFHendra (Edit)
After repeated rebuke by President Trump, the Fed has completely capitulated. Following the two-day meeting, the Fed has scaled back their projected interest rates rise to zero this year. This reflects the concern about slowing economic growth, global market uncertainty, financial market volatility, and muted inflation. Below is Fed Chairman Jerome Powell’s press release

Powell: Brexit and US-China trade talks pose some risks to outlook from CNBC.
Contrast the Fed’s statement to three months ago when the Fed signaled several rate hikes this year. In addition, the Fed will slow down the rate of balance sheet normalization in May and end the drawdown in September. This is also a remarkable U-turn from the guidance last December. Last year, it suggested an autopilot approach with no change in pace of the balance sheet reduction.
Going into the meeting, the market generally expect the Fed to at least hike one more time this year and maintain the balance sheet reduction until the end of the year. From this perspective, the Fed has exceeded even the most dovish market expectation. The Fed now expects a 2.1% growth this year, down from 2.3% forecast last December. The outlook for 2020 is even more bleak with only 1.9% growth.
The Dot Plot comparison below shows the abrupt swing in the projection of interest rates in the coming years.

The minute the statement comes out, the US Dollar sold off aggressively.
USD Index 1 minute Chart

Similarly, the EURUSD also failed to have a follow through to the downside after ECB’s dovish message two weeks ago. Recall two weeks ago ECB’s President Mario Draghi introduced new easing measures called LTRO (Long Term Refinancing Operation). In fact, EURUSD has completely reversed all the losses as the chart below shows:
EURUSD Weekly Chart

In fact, looking at the charts of multiple USD pairs, we believe that US Dollar should continue to see further weakness. One of the clearest structures can be seen in $USDINR (Indian Rupee). Below is the daily chart showing incomplete sequence from October 2018 high, favoring more downside.
USDINR Daily Elliott Wave Chart

From the chart above, $USDINR should continue to see more downside while rally fails below wave X high at 71.8. The minimum target is 67 approximately when wave Y is equal in length to wave W. With the complete reversal of the Fed’s guidance and without further rate hike, US Dollar can continue to see further weakness in coming days / weeks.
For more analysis and regular Elliott Wave update in 78 instrument, join EWF. We offer 14 days FREE trial where you can get access to the latest up-to-date forecast and analysis, live trading room, live session, and more. Register here –> 14 days FREE Trial

Elliott Wave View: S&P 500 (SPX) Testing 2018 High

The rally from December 26, 2018 low in S&P 500 (SPX) remains in progress. We are labeling this rally as an impulse Elliott Wave structure, which is 5 waves structure. In the chart below, we can see wave (3) ended at 2816.88 and wave (4) ended at 2722.27. The internal of wave (4) unfolded as a zigzag Elliott Wave structure. Wave A of (4) ended at 2767.66, wave B of (4) ended at 2796.44, and wave C of (4) ended at 2722.27. Wave (4) pullback ended at our blue box inflection area where wave C = wave A. This blue box area is a high frequency area where both buyers and sellers agree in direction of the next move for 3 waves at least. Anyone who bought the dips at the blue box should now have a risk free trade where stop is at break even level.

The Index is currently in the last wave (5) rally which subdivides in 5 waves of lesser degree. Up from 2722.27, wave 1 ended at 2852.42 and wave 2 ended at 2811.37. Near term, while pullback stays above 2811.37, and more importantly above 2722.27, expect the Index to extend higher. Shorter cycle trend and momentum still points higher and we expect Index to find support in the dips in 3, 7, or 11 swing.

1 Hour SPX Elliott Wave Chart

Attached Image (click to enlarge)

AAL Elliott Wave View: Correcting 2013 IPO Lows
March 21, 2019 By Hassan Sheikh (Edit)
American Airlines Group inc ticker symbol: AAL is an American airline holding company stationed in Forth worth Texas formed in December 2013. Since the IPO low from December 2013, the stock rallied in 3 waves corrective sequence i.e as double three structure & ended the Grand Super Cycle wave ((w)) at 1/16/2018 peak ( $59.08). Down from there, the stock is doing a bigger 3 wave pullback to correct the Grand Super Degree cycle in wave ((x)) as zigzag structure.
According to Elliott wave theory, Zigzag is a 3 wave structure having an internal subdivision of (5-3-5) swing sequence. The internal oscillations are labeled as A, B, C where A = 5 waves, B = 3 waves and C = 5 waves. This means that A and C can be impulsive or diagonal waves. The A and C waves must meet all the conditions of wave structure 5, such as: having an RSI divergence between wave subdivisions, ideal Fibonacci extensions, ideal retracements etc.
AAL Weekly Elliott Wave Chart

The pullback from 1/16/2018 peak ( $59.08) is taking a form of Elliott Wave zigzag structure. Where Super Cycle degree wave (a) ended at $35.64 low. Wave (b) bounce ended at $43.88 high. And wave (c) remain in progress towards $20.44-$14.93 100%-123.6% Fibonacci extension area of (a)-(b) blue box extreme area. Before it ends the cycle from 1/16/2018 peak in Grand Super Cycle degree wave ((x)) pullback. Then, the stock is expected to resume the upside or should produce a bigger 3 wave bounce at least.
AAL Daily Elliott Wave Chart

AAL in Daily cycle, Near-term bounces are expected to fail below 43.91 high for a move towards $20.44-$14.93 100%-123.6% Fibonacci extension area to happen.
Keep in mind that the market is dynamic and the view could change in the meantime. Success in trading requires proper risk and money management as well as an understanding of Elliott Wave theory, cycle analysis, and correlation. We have developed a very good trading strategy that defines the entry. Stop loss and take profit levels with high accuracy and allows you to take a risk-free position, shortly after taking it by protecting your wallet. If you want to learn all about it and become a professional trader. Then join our service by taking a Free Trial.

USDMXN Bearish Sequence Calling Extension Lower
March 21, 2019 By Daud Bhatti (Edit)
Back in September 2018, we highlighted that USDMXN Elliott wave analysis suggested bounces should fail below 6.15.2018 peak for extension lower. The bounce did fail below 6.15.2018 peak as pair formed a secondary peak on 12.6.2018 and turned lower. Cycle from 12.6.2018 peak ended on 1.17.2019 and pair bounced to correct the decline from 12.6.2018 peak. This corrective bounce ended on 3.7.2019 and this week USDMXN managed to break below 1.17.2019 peak which has created a bearish sequence down from 12.6.2018 peak. In this video blog, we will take a look at the downside targets to complete cycles from 6.15.2018 peak and 12.6.2018 peaks. We will also look at how this impacts USDPLN wave structure and path going forward.
USDMXN Bearish Sequence and Cycle from 12.6.2018
Chart below shows the incomplete sequence created as a result of break below 1.17.2019 peak. Now, as bounces fail below 3.7.2019 peak, the pair should continue lower towards 18.0799 – 17.4689 area. 18.0799 is the 100% Fibonacci extension of 6.15.2018 – 6.8.2018 cycle related to 12.6.2018. Whereas, 17.8378 is the 100% Fibonacci extension of 12.6.2018 – 1.17.2019 cycle related to 3.7.2019. Due to incomplete sequence down from 12.6.2018 peak, any bounces should find sellers in the sequence of 3, 7 or 11 swings as far as 3.7.2019 high remains in place.
If the downtrend line from 12.6.2018 through 3.7.2019 breaks and more importantly the pivot at 3.7.2019 high gives up in the distribution system, then pair could rally above 3.7.2019 to complete a FLAT correction from 1.17.2019 low and then continue lower towards 18.0799 area.

USDPLN Could Turn Into Elliott Wave FLAT and Rally When USDMXN Reaches Blue Box
USDPLN continues to show an incomplete bullish sequence up from 1.25.2018 low and has an extra swing. However, the pivot at 1.31.2019 low has given up and USDMXN is showing a bearish sequence against 3.7.2019 peak which suggests USDPLN could also bounce and make another low to complete 5 swings down from red B wave high and complete a possible Elliott Wave FLAT structure down from blue wave (1) peak and resume the rally. Ideal time for rally to resume would be when USDMXN reaches blue box shown in the chart above, until then USDPLN and DXY could stay sideways or extend lower.

Elliott Wave View: Nikkei Rally Likely Fails for Further Downside

Elliott Wave view is calling an end to Nikkei’s rally from December 26, 2018 low with wave X at 21884. The Index should resume the move lower and should eventually break below wave December 26, 2018 low. Or at minimum, the Index should do a larger 3 waves pullback to correct the cycle from 19055 low. Down from wave X at 21884, the decline is unfolding as a zigzag Elliott Wave structure where wave ((a)) ended at 20680. Internal of wave ((a)) subdivides as a 5 waves impulse.

Wave ((b)) bounce is currently in progress as a Flat Elliott Wave structure. Up from 20680, wave (a) ended at 21520 and wave (b) ended at 20705. Internal of wave (a) unfolded as a double three Elliott Wave structure. Up from 21520 low, wave w ended at 21410, wave x ended at 21015, and wave y of (a) ended at 21520. Internal of wave (b) ended as a zigzag at 20705. Wave a of (b) ended at 21160, wave b of (b) ended at 21505, and wave c of (b) ended at 20705. Wave (c) of ((b)) is in progress as a 5 waves impulse. The rally should fail below March 4 high at 21884 for further downside. We don’t like buying the Index and expect rally to fail for further downside as far as pivot at 21884 high stays intact.

1 Hour Nikkei Elliott Wave Chart

Attached Image (click to enlarge)

ZN_F Elliott Wave Analysis, USDJPY and SPX
March 25, 2019 By Daud Bhatti (Edit)
ZN_F has rallied throughout March so in this video blog, we will take a look at the Technical outlook for ZN_F (US 10 Year Note Futures), present Elliott wave count and also correlate it with USDJPY and $SPX to explain to readers and viewers how it could impact the Yen and $SPX.
ZN_F Elliott Wave Analysis since 10.2018 low
Rally from October 2018 low is proposed to be taking the form of a Zigzag Elliott Wave Structure when rally to 119’6 completed wave (1), dip to 117’22 completed wave (2), rally to 121’20 completed wave (3), pull back to 120’28 completed wave (4) and move to 123’08 completed wave (5) of wave ((A)) impulse. This was followed by a 3 waves pull back to 121’02 which completed wave ((B)) and we have already seen a new high above 123’08 which suggests wave ((C)) higher is in progress, it has a measured move target of 126’27 – 128’07 and in extension 130’14. Pull backs should remain supported and find buyers in the sequence of 3, 7 or 11 swings as far as pivot at 121’15 i.e. wave (2) of ((C)) low remains intact. While below 130’14, it’s a 3 waves move. However, a break above 130’14 would suggest rally from 121’02 is actually wave ((3)) and not wave ((C)) and would result in more upward extension.

ZN_F Elliott Wave Analysis – Alternate View
This view suggests rally from October 2018 low would unfold as a double three Elliott Wave structure rather than a zigzag but would have the same end result and same measured move target area as far as January 18, 2019 low remains in place. This would allow for a deeper pull back from the first blue box area i.e. 124’20 – 125’15 before rally continues. Wave (B) should offer a buying opportunity in the sequence of 3, 7 or 11 swings if this view plays out.

ZN_F Correlation with USDJPY and SPX
Correlation suggests that until ZN_F doesn’t reach 126’27 – 128’07, USDJPY and SPX should either drop or remain sideways – lower. Another high in SPX can’t be ruled out during a pull back of ZN_F but any strength from current levels should be limited and we should soon see a roll over in SPX and other Indices as well.

GBPCAD Found Buyers In Blue Box And Rallied
March 25, 2019 By EWF Vlada (Edit)
Hello fellow traders. In this technical blog we’re going to take a quick look at the Elliott Wave charts of GBPCAD. As our members know GBPCAD is showing incomplete bullish sequences in the cycle from the August 15th 2018 low. Break of the 01/25 peak made the pair bullish against the 1.697 pivot. Consequently, we advised members to avoid selling the pair and keep on favouring the long side. In the following article, we’re going to explain the Elliott wave structure and Forecast.
GBPCAD 4 Hour Elliott Wave Analysis 3.21.2019
Besides we have bullish sequences in August 2018 cycle, short term rally from the 1.697 low has 5 waves structure which supports idea of further rally. 5 waves from the mentioned low suggests we have ended only the first leg of potential Elliott Wave ZIG ZAG Pattern . So once B pull completes we can get another leg up C red. As of right now GBPCAD is correcting the short term cycle from the 1.697 low. Pull back is labeled as B red , having ((a)) ((b)) ((c)) subdivisions. We see pull back incomplete when we can still be in ((c)) black leg. Chart is calling for potentially another leg lower, however we don’t recommend selling it.

GBPCAD 1 Hour Elliott Wave Analysis 3.21.2019
B red pull back can be still in progress. We are calling for another short term swing down to allow the price to reach important technical area marked at the blue box : 1.74306-1.7345 ( buyers zone) . As our members know, Blue Boxes are no enemy areas , giving us 85% chance to get a bounce. Because of incomplete swing sequences in August cycle and 5 waves from the 1.69704 low, we expect to see reaction in 3 waves up from the blue box at least.

GBPCAD 1 Hour Elliott Wave Analysis 3.24.2019
Eventually GBPCAD has made leg lower as expected. The price has reached proposed Blue Box area at 1.74306-1.7345. Buyers appeared right at the blue box when pull back completed at 1.74198 low. We got expected rally. Now, we need to see break above March 12th peak to confirming next leg is in progress. Any longs from blue box area should be already risk free. If not already long we don’t recommend buying short term dips against the 1.74198 low until March 12th peak gets broken.
Keep in mind that market is dynamic and presented view could have changed in the mean time. Best instruments to trade are those having incomplete bullish or bearish swings sequences. We put them in Sequence Report and best among them are shown in the Live Trading Room. You can check most recent charts in the membership area of the site.

Elliott Wave Forecast
We cover 78 instruments in total, but not every chart is trading recommendation. We present Official Trading Recommendations in Live Trading Room. If not a member yet, Sign Up for Free 14 days Trial now and get access to new trading opportunities. Through time we have developed a very respectable trading strategy which defines Entry, Stop Loss and Take Profit levels with high accuracy.
Welcome to Elliott Wave Forecast !

Elliott Wave View: Further Strength Ahead for 10 Year Notes (ZN_F)

Short term Elliott Wave view on Ten Year Treasury Notes (ZN_F) suggests that the rally from January 18, 2019 low (121.02) is unfolding as an Impulse Elliott Wave structure. The Notes is currently within wave (3) of this impulsive move. The internal of wave (3) subdivides in 5 waves of lesser degree. Wave 1 of (3) ended at 122.3 and wave 2 of (3) ended at 122.12. Wave 3 of (3) is currently in progress and also subdivides in 5 waves of lesser degree. This illustrates the fractal nature of the market. Fractals suggest that each wave consists of smaller wave patterns and the pattern repeats itself in different degrees.

Up from wave 2 at 122.12, wave ((i)) ended at 122.31 and wave ((ii)) pullback ended at 122.18. The Notes rallied again in wave ((iii)) which ended at 124.21, and wave ((iv)) pullback appears completed at 124.02. Near term, expect the Notes to continue in wave ((v)) and extend higher to above 124.21. If the Notes breaks below the proposed wave ((iv)) low at 124.02, this suggests a double correction. However, even in the case of a double correction, as far as the Notes stay above 122.12, expect more upside. We don't like selling the Notes.

1 Hour ZN_F Elliott Wave Chart

Attached Image (click to enlarge)

Cronos Group (NASDAQ: CRON) Bullish Side Remains Intact
March 26, 2019 By Ayoub Ben Rejeb (Edit)
Cronos Group (NASDAQ: CRON) is an innovative global cannabis company based in Canada. It’s one of the largest medical marijuana producer around the world and it was the first cannabis company to be listed on the Nasdaq stock market last year.
Today, the company announced its fourth-quarter and full-year 2018 financial results before the market opens. It posted gross profit before fair value adjustments of CA$2.5 million which is up 449% year over year. However, the company announced a fourth-quarter loss of CA$11.8 million compared to a profit of CA$667,000 in the prior-year period.
The stock is down 2.75% for the day and could be still looking for further losses in the coming days. Is this a start of a larger correction or the bullish cycle will remain intact ?
To understand the current situation we need to take a look at the technical chart of CRON with the help of the Elliott Wave Theory:
CRON Daily Elliott Wave Chart

Since IPO, CRON is proposed to be advancing in an impulsive waves as the stock keeps making higher highs and lower lows with enough separation. At current stage, it ended the red wave III cycle from October 2018 low and therefore a correction is taking place in a 3 waves Zigzag structure.
The correction in wave IV can reach the extreme blue box area at $17.9 – $16.4 from where the stock will be able to rally again to new all time highs or bounce in 3 waves at least. However to be able to rally higher, CRON shouldn’t do an overlap with September 2018 peak at $15.2 which would invalidate the impulsive structure.
Consequently, the bullish trend looks to be intact at this stage and the pullback would represent another buying opportunity for investors to continue riding the Long side.
Get more investing ideas in the Stock Market by trying out our services 14 days and learning how to trade our blue boxes using the 3, 7 or 11 swings sequence. You will get access to our 78 instruments updated in 4 different time frames, Live Trading & Analysis Session done by our Expert Analysts every day, 24-hour chat room support and much more.